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American Axle & Manufacturing Holdings, Inc. (NYSE: AXL) is a leading global Tier 1 automotive supplier headquartered in Detroit, specializing in the design, engineering, validation, and manufacturing of driveline and metal forming technologies. The company caters to a diverse range of vehicles, including light trucks, SUVs, crossover vehicles, passenger cars, and commercial vehicles.
Established over two decades ago, AAM has built a trusted reputation for delivering efficient, powerful, and innovative solutions to automotive, commercial, and industrial markets worldwide. The company operates through two primary segments: Driveline and Metal Forming, with the Driveline segment generating the majority of its revenue.
AAM is at the forefront of the automotive industry's shift towards electrification, with technologies supporting electric, hybrid, and internal combustion vehicles. The company's recent achievements include the development of an Electric Beam Axle with High-speed Motor and Integrated Inverter Driveline Technology, which has earned it recognition as a finalist for the 2023 Automotive News PACEpilot Award.
With over 80 facilities in 18 countries, AAM continues to innovate and expand its product offerings to meet evolving industry demands. Its financial results for 2023 show a strong cash flow and a commitment to sustainable mobility solutions.
AAM's strategic initiatives and participation in numerous industry conferences highlight its dedication to staying ahead in the rapidly changing automotive landscape. The company's ongoing projects focus on enhancing performance, reducing emissions, and supporting the transition to electrification, ensuring a safer and more sustainable future.
American Axle & Manufacturing Holdings (NYSE: AXL) has successfully syndicated bridge financing to support its announced combination with Dowlais Group plc. The financing includes an $843 million Term Loan B, $843 million 1st Lien Senior Secured Bridge Facility, and $500 million 2nd Lien Senior Secured Bridge Facility.
The company has also amended its Credit Agreement, extending the maturity of its Revolving Credit Facility (RCF) and Term Loan A for five years. The RCF commitments will increase by $570 million to approximately $1.5 billion upon closing of the Combination.
AAM highlighted its strong business outlook, including over $20 billion in lifetime revenues secured through 2030 and beyond in core driveline programs. The combination is expected to generate $300 million in run-rate cost synergies and will expand geographic diversification while maintaining strong North American exposure.
American Axle & Manufacturing (AXL) reported its Q4 and full-year 2024 financial results. For Q4 2024, the company recorded sales of $1.38 billion, a net loss of $(13.7) million, and Adjusted EBITDA of $160.8 million. Full-year 2024 results showed sales of $6.12 billion, net income of $35.0 million, and Adjusted EBITDA of $749.2 million.
The company's 2025 financial outlook targets sales between $5.8-$6.05 billion, Adjusted EBITDA of $700-$760 million, and Adjusted free cash flow of $200-$230 million. These projections assume North American light vehicle production of approximately 15.1 million units and do not account for costs related to the announced combination with Dowlais Group.
Year-over-year, AAM improved its performance with full-year Adjusted earnings per share of $0.51 in 2024 compared to a loss of $(0.09) in 2023, demonstrating operational improvements despite Q4 sales being negatively impacted by volume and mix.
American Axle & Manufacturing Holdings (NYSE: AXL) has announced it will release its fourth quarter and full year 2024 financial results before market opens on February 14, 2025. The company will host a conference call at 10:00 a.m. ET on the same day to discuss the results and other related matters.
Participants can join via phone using the numbers (877) 883-0383 from the US or (412) 902-6506 internationally, with access code 0198702. A live audio webcast will be available at investor.aam.com. An audio replay will be accessible until February 21, 2025, using numbers (877) 344-7529 (US) or (412) 317-0088 (international) with replay code 2688905, and will be archived on AAM's website for one year.
American Axle & Manufacturing (NYSE: AXL) has announced a $1.44 billion cash and stock merger with Dowlais Group. The combination will create a leading global driveline and metal forming supplier with approximately $12 billion in annual revenues. Under the agreement, AAM shareholders will own 51% of the combined company, while Dowlais shareholders will receive 0.0863 AAM shares, 42 pence per share in cash, and up to 2.8 pence FY24 final dividend.
The deal represents a 25% premium to Dowlais' January 28, 2025 closing price. The combined entity expects to achieve $300 million in annual run-rate cost synergies and high earnings accretion in the first full year post-closing. The transaction is expected to close by end of 2025, subject to shareholder and regulatory approvals. The combined company will be headquartered in Detroit and led by AAM's current Chairman and CEO, David C. Dauch.
American Axle & Manufacturing (NYSE: AXLE) will showcase its technology at the 2025 Consumer Electronics Show in Las Vegas from January 7-10. The company will display various driveline and powertrain technologies supporting electric, hybrid, and internal combustion vehicles.
Key highlights include their hybrid Electric Drive Unit (EDU) featured in the Mercedes AMG GT 63 S E Performance sedan, delivering 150 kW (204 hp), and their innovative 3-in-1 e-Beam technology showcased in a battery electric light-duty truck. The truck combines a 150kW front-wheel EDU with a 425kW (570 hp) rear e-Beam system.
The exhibition will also feature cross-sectioned e-Beam configurations, new components including rotor shafts, park lock actuators, output shafts, differentials, and the SmartBar disconnecting stabilizer bar. AAM's exhibit will be located in the West Hall (#6100) at the Las Vegas Convention Center.
American Axle & Manufacturing (NYSE: AXL) has announced its participation in the upcoming UBS Global Industrials and Transportation Conference on December 4. The company will present at 1:00 p.m. ET, with a live audio webcast available through the Investor Relations section of their website. Interested parties can access the presentation through www.aam.com, and a replay will be made available after the event.
American Axle & Manufacturing (NYSE: AXL) has announced its participation in Bank of America's Leveraged Finance Conference on December 3. The company will present at 8:50 a.m. ET, with the presentation being accessible through a live audio webcast on the Investor Relations section of AAM's website. A replay option will be available after the event concludes.
American Axle & Manufacturing (NYSE: AXL) reported Q3 2024 financial results with sales of $1.50 billion, down from $1.55 billion in Q3 2023. The company posted a net income of $10.0 million ($0.08 per share), compared to a net loss of $(17.4) million in Q3 2023. Adjusted EBITDA improved to $174.4 million (11.6% of sales) from $156.8 million last year. The company updated its 2024 guidance, targeting sales of $6.1-$6.15 billion, Adjusted EBITDA of $715-$745 million, and Adjusted free cash flow of $200-$220 million.
American Axle & Manufacturing Holdings (NYSE: AXL) announced it will host a conference call to discuss third quarter financial results on Friday, November 8, 2024, at 10:00 a.m. ET. The company will release its financial results before market opens on the same day. The call will be accessible via phone and webcast, with replay available until November 15. The earnings release will be available at www.aam.com, and the webcast can be accessed through investor.aam.com.
American Axle & Manufacturing Holdings (AAM) has announced the sale of its commercial vehicle axle business and related assets in India to Bharat Forge (BFL) for $65 million. The business being sold generated approximately $156 million in sales in the last twelve months ending June 30, 2024. The transaction includes AAM's manufacturing facilities in Pune and Chennai, as well as the Pune Engineering and Development Center.
The sale is part of AAM's strategy to focus on ICE, hybrid, and full electric passenger car, pickup truck/SUV, and van applications globally. The deal is expected to close in the fourth quarter of 2024, subject to customary closing conditions and regulatory approvals. This move aims to provide AAM with additional financial flexibility while allowing BFL to expand its product portfolio in the component sector.
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